Buxton component factory secures green loan to make switch to solar energy
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Flowflex Components, a family business which manufactures brass fittings for pipes used in plumbing and heating supplies, intends to fit 990 panels at its premises on the Tongue Lane Industrial Estate.
At peak capacity, the array will generate 376 kilowatts (kWP) of electricity for business operations, which the company estimates to be around 15 per cent of its typical requirements – and equivalent to 64 tonnes of its carbon emissions over the next year.
Financial director Richard Wilcock said: “As a large local employer with customers in the UK, Europe and the Middle East we have always had a genuine commitment to sustainability.
“The installation of solar panels is a big step forward for us, and thanks to HSBC UK funding, we will soon be able to substitute a sizeable amount of our current energy usage with green energy.”
The funding has been secured from the £500million Green SME Fund which was launched to coincide with last year’s COP26 climate summit in Glasgow.
The scheme offers loans for small and medium sized businesses to support local economies and increase employment opportunities across the UK as it transitions to a low carbon future.
Richard Beaumont, a corporate relationship manager for the bank, said: “We are delighted to be funding Flowflex’s installation of solar panels.
“This investment will generate immediate cost savings and we are very proud to support Flowflex Components in achieving its sustainability targets.”
Founded in 1954, Flowflex fittings, valves and components have been installed in some prestigious construction projects from London to Dubai, Doha and Abu Dhabi, and are also used in the automotive, shipbuilding and oil and gas sectors.
Its plant houses a mix of hot forging capabilities and computer controlled machinery which create substantial energy needs.
For more information on the HSBC fund, see https://bit.ly/3OQRhwv.
To learn more about Flowflex, go to /flowflex.com.